JPMorgan: Cryptocurrency market lacks short-term significant catalysts

In a research report on Friday, JPMorgan Chase (JPM) pointed out that as of the end of last month, the total market value of cryptocurrencies was $2.02 trillion, down 24% from its peak in March, and said it is waiting for the next development catalyst and an "increase in retail participation".

Analysts led by Kenneth Worthington wrote: "Overall, we continue to see a lack of significant catalysts in the crypto ecosystem, so we expect cryptocurrency tokens and asset prices to be more sensitive to macro factors."